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Financial fraud and the Madoff scheme

Air Date: December 17, 2008

Investors large and small are confronting losses of staggering amounts as a result of the what is believed to be a Ponzi-style scheme created by Wall Street financier Bernard Madoff. How did it work, how did he get away with it for so long, and what is the fallout? We talk with Wall Street Journal writer Robert Frank and behavioral economist HERSH SHEFRIN. Listen to the mp3